WASHINGTON (AP) – Congress’ nonpartisan budget analysts expect average premiums for individually purchased health insurance to grow 15 percent next year, largely because it’s unclear if President Donald Trump will let federal subsidies to insurers continue.
The Congressional Budget Office estimate comes with Trump repeatedly threatening to block the payments in his drive to dismember President Barack Obama’s health care law.
The budget office and insurance industry previously projected 2018 premiums would grow an average 20 percent if Trump halted the subsidies.
Obama’s law requires insurers to reduce out-of-pocket costs for lower-earning customers and mandates that the government reimburse them. It costs about $7 billion annually.
A federal court has ruled Congress didn’t authorize the expenditures, but the subsidies have continued. Senators are hoping to write a bill to continue the payments.